Joseph Lubin co-founded Ethereum, watched it become the most important blockchain in the world, and then built the company that makes all the tools developers need to actually build on it. ConsenSys created MetaMask — the crypto wallet with 30 million users that is basically the login button for all of Web3. If Ethereum is the highway, ConsenSys built the on-ramps, the gas stations, and the GPS.
Founded
2014
HQ
Brooklyn, New York
Total Raised
$725 million
Founder
Joseph Lubin
Status
Private
Website
consensys.ioTHE ORIGIN STORY
Joseph Lubin was one of eight co-founders of Ethereum in 2014. After Ethereum launched, he recognized that the ecosystem needed developer tools, wallets, and infrastructure — not just the blockchain itself.
He founded ConsenSys (a portmanteau of "consensus" and "systems") in Brooklyn to build everything developers needed. The company started as a kind of blockchain incubator/studio, launching dozens of projects — some succeeded wildly (MetaMask, Infura), many were quietly shut down.
ConsenSys went through a major restructuring in 2020, spinning off or killing underperforming projects and focusing on its core products.
WHAT THEY ACTUALLY DO
ConsenSys makes money through several channels. MetaMask generates revenue from its built-in swap feature — users pay a small fee (0.875%) when swapping tokens directly in the wallet.
MetaMask Institutional serves hedge funds and asset managers with custody and compliance tools. Infura provides blockchain infrastructure (API access to Ethereum nodes) on a freemium model — free for small developers, paid plans for enterprises processing millions of requests.
Linea is their zkEVM Layer 2 network. ConsenSys also earns from consulting and enterprise blockchain services.
THE PRODUCTS
MetaMask (crypto wallet — 30M+ users), Infura (blockchain infrastructure API), Linea (zkEVM Layer 2 network), MetaMask Institutional (enterprise custody), MetaMask Snaps (extensible wallet plugins), Diligence (smart contract auditing).
HOW THEY GREW
ConsenSys grew by being the default infrastructure provider for Ethereum. If you're a developer building on Ethereum, you almost certainly use MetaMask for testing, Infura for node access, and Truffle (now sunset) for development.
This developer-first strategy created massive lock-in. MetaMask's growth came from being the first good browser extension wallet — it became the standard way to interact with dApps.
The enterprise strategy (JPMorgan's Quorum, now part of ConsenSys) brought in corporate clients.
THE HARD PART
ConsenSys has faced two major challenges. First, the SEC sued ConsenSys in 2024 over MetaMask's swap and staking features, alleging the company was operating as an unregistered broker-dealer and offering unregistered securities.
This is an existential legal fight. Second, ConsenSys went through painful layoffs and restructuring multiple times — the "blockchain studio" model of funding dozens of experimental projects burned through cash rapidly.
The 2020 restructuring cut hundreds of employees and refocused the company.
MONEY TRAIL
2021 · Led by
$NaNM raised
2022 · Led by
$NaNM raised
2023 · Led by
$NaNM raised
WHO BACKED THEM
Microsoft, SoftBank, ParaFi Capital, Temasek, Third Point, Marshall Wace, C Ventures, Anthos Capital
Head-to-Head
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